Commodities
XAU/USD Price Faces Resistance at 0.618 Arc
The XAU/USD price is facing resistance from the 0.618 Arc on its 1h chart, according to an analysis of the asset's arc cycle. This resistance has capped upside expansion, causing bullish momentum to fade.
The 0.618 Arc continues to act as a key boundary for the XAU/USD price, limiting its upward movement. Bullish attempts have stalled beneath this level, indicating that the resistance remains intact.
If the Resistance Arc holds firm, the primary scenario is a decline toward 4,366. However, if the XAU/USD price closes above 4,410 in the short term, it would invalidate the bearish scenario and open up new possibilities for growth.